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2 years ago

Which of the following regarding Master Budgeting is true?

Business

2 answers:

konstantin123 [22]2 years ago

7 0

Answer:

c. When preparing a direct materials budget, the units of raw material needed to meet production should be added to desired ending inventory and the beginning inventory for raw materials should be subtracted to determine the amount of raw materials to be purchased.

Explanation:

The master budget refers to the budget in which the expenses, sales, purchases, are recorded

It can be sales budgets, purchase budgets, etc that comes under the operating budget

While preparing the direct material budget, the raw material required to be purchased should be find out by using the following formula

= Ending inventory balance + cost of sales - beginning inventory balance

Or we can say

Cost of goods sold = beginning inventory + raw material purchase - ending inventory

hence, the correct option is c.

NARA [144]2 years ago

6 0

Answer:

Statement A, C and D

Explanation:

a. All the direct expenses budget is prepared in order to compute direct material, direct labour and other manufacturing overheads in order to compute the production budget cost. As all these are essentially required in order to make a production budget.

b. The first budget is usually the revenue or sales forecast budget.

c. Direct material to be bought = Direct Materials required in production + Closing inventory to be maintained - Opening inventory already available.

d. Cash budget not only comprises of inflow, but outflow is also as important as inflow. When all the incomes and expenses are budgeted then cash budget is prepared.

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According to the box, "Will Strategy Robots Replace Managers?", with robots having the capabilities to do a multitude of busines

musickatia [10]

Answer:

The options for this question are the following:

A. Companies do not want to eliminate all jobs at once.

B. Machines cannot do the jobs of humans, like recommend cancer cures or make banking decisions.

C. There is a level of reasoning and strategy that only humans have the ability to do.

D. Machines are only useful in manufacturing duties.

The correct answer is C. There is a level of reasoning and strategy that only humans have the ability to do.

Explanation:

There are two variables that limit machines. One is the excessive consumption of energy that some devices require to carry out their activities.

For example, some prototypes that simulate some everyday human tasks, such as walking or doing housework, typically have a battery life of 15-20 minutes.

The second has to do with the costs of incorporating high-end computers that allow robots to recognize spaces and make decisions on the go.

“For a human being it is easy to identify if he is in a room, a room or a hall. Robots need cameras and computers to process that information, "adds Ramírez.

To understand that point, a relationship must be established: a home computer has four cores to process information. However, artifacts of up to 50 cores are needed to perform these space recognition operations in a timely manner, which would increase the cost of robot production.

7 0

2 years ago

You have a job at a real-estate agency in the small country of Dystopia, where you are paid 72,000 marks (the currency of Dystop

slamgirl [31]

Answer:

The total amount you pay in social insurance taxes on your second job is 2,914.65 couches

Explanation:

The computation of the total amount paid is shown below:

= (Total income - paid amount) × Social insurance tax rate

= ($110,100 - $72,000) × 7.65%

= 2,914.65 couches

We simply have taken the difference between the total amount and the paid amount and then multiply it with the social insurance tax rate

All other information is not relevant. Hence, ignored it

8 0

2 years ago

Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1

Alik [6]

Answer:

See the explanation below:

Explanation:

a. Create an accounting equation and record the effects of each accounting event under the appropriate general ledger account headings.

Assets = Liabilities + Stockholders' Equity ......... (1)

Cash is a component of Asset, therefore the transaction will affect assets or cash as follows:

Asset: + $28,600, - $13,200, - $1,500

Cash balance = Asset = $28,600 - $13,200 - $1,500 = $13,900

Retained Earnings is a component of Stockholders' Equity , therefore the transaction will affect Stockholders' Equity or Stockholders' Equity as follows:

Retained Earnings; + $28,600, - $13,200, - $1,500

Retained Earnings = $28,600 - $13,200 - $1,500 = $13,900 = Stockholders' Equity

Liabilities = 0. This is because the three transactions does not affect liabilities

Substituting the values into the equation (1), we have:

$13,900 = 0 + $13,900

b. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet.

1. Income statement

Details Amount ($)

Revenues 28,600

Expenses (13,200)

Profit 15,400

Dividend (1,500)

Retained earning 13,900

2. Statement of changes in stockholders' equity

Details Amount ($)

Common stock 0

Retained b/f 0

Retained earning for the year 13,900

Stockholders' equity 13,900

3. Balance sheet.

Details Amount ($)

Assets

Cash 13,900

Other assets 0

13,900

Stockholders' equity

Common stock 0

Retained earning 13,900

13,900

c. Explain why the income statement uses different terminology to date the income statement than is used to date the balance sheet.

The reason is the income statement shows the performance of a company during a particular period, while the balance sheet shows the assets and liabilities of the company at a specific point in time.

7 0

2 years ago

Harrington makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60%

GuDViN [60]

Answer:

Cash Collection is $122,000

Receivable as on August 31, is $97,000

Explanation:

Total budgeted cash collection in the month of August is $122,000 and total receivables as on August 31 is $97,000.

A schedule for the cash collection is made in MS Excel file, which is attached with this answer, please find it.

Download xlsx

5 0

2 years ago

For each of the following incidents, determine whether the individuals will be motivated to behave as desired.

AleksAgata [21]

Answer:

C). Write a letter to Walter stressing to him the value of a college education.

Explanation:

The most ethical and moral action that Coach Edward should take in the given situation would be to 'write a letter to Walter stressing to him the value/significance of college education.' It would not only educate Walter regarding the crucial role that college education plays in defining the success and personality of an individual but also emphasize the benefits of joining the college team which would be vital to his overall career and give a direction to his skills. Thus, this would serve Coach Edwards' purpose ethically by making Walter understand the idea logically and convince him. Therefore, option C is the correct answer.

6 0

2 years ago